Shares in DevEx Resources, the mineral explorer chaired by prominent businessman Tim Goyder, experienced a dramatic surge on the Australian market following a major leadership announcement.
A New Captain at the Helm
The company revealed that Marnie Finlayson, a highly respected former executive from mining behemoth Rio Tinto, will take over as its new Managing Director starting next month. This news sent investor confidence soaring, with DevEx's stock price closing 48 per cent higher at 17¢ on Wednesday. This impressive rally boosted the junior explorer's market capitalisation to approximately $75 million.
An Impressive Mining Pedigree
Ms Finlayson brings a wealth of global mining expertise to DevEx, culminating from a two-decade career at Rio Tinto. Her most recent role there was a three-year stint as the managing director of the company's battery materials division, a position where she played a pivotal role in shaping its global strategy. A key achievement during this time was the acquisition of the Rincon lithium project in Argentina.
Since concluding her tenure at Rio last year, she has maintained a presence in the resources sector, serving on the board of gold producer Northern Star Resources since 2022. Her mining connections run deep within her family; her brother, Raleigh Finlayson, was the chief executive of Saracen Mineral Holdings at the time of its $16 billion merger with Northern Star in 2020.
Driving the Next Phase of Growth
Tim Goyder expressed strong confidence in the new appointment. He stated that Ms Finlayson's "global experience, strategic capability and strong leadership credentials" ideally position her to lead DevEx's next growth chapter. The primary focus will be on advancing the company's high-quality, district-scale uranium portfolio in the Northern Territory and unlocking the value of its Kennedy rare earths project in Queensland.
Ms Finlayson is succeeding Todd Ross as the chief of DevEx Resources. According to the company, Mr Ross is departing to concentrate his efforts on Bedrock Credit Partners, a natural resources private credit firm he recently co-founded.
